USDHUF - Sell the local top? (republ. with 4 Hrs chart)
Daily: the trend is bullish, Ichimoku components support the trend, with mentionning Chikou Span which may hit the Price wall soon unless we see a further momentum push Price higher within next 5-6 days.
Why I think a pull back is possible? Slow Stoch giving a sell signal soon, with MACD turning bearish again. Also DMI converging a bit with ADX decreasing a bit. There is better chance for USDHUF to build some local wave top here.
4 Hrs: Double top? Chikou Span hits candles, further break up is getting unlikely. It will either move sideaway 236,50-238 for a while, or with next attempt will break the 100 WMA and will attack the Cloud. What can not go up, will more likely come down, at least a bit. Support is 232-232,50, which is appr. in line with Daily Kijun Sen too.
I try to open some short in between 236,80-237,50, but only small, as on the other hand fundamentally there's not much what could support HUF really in short-medium term. The whole trade will rather depend on the general USD correction, than on local HUF news.
Why I think a pull back is possible? Slow Stoch giving a sell signal soon, with MACD turning bearish again. Also DMI converging a bit with ADX decreasing a bit. There is better chance for USDHUF to build some local wave top here.
4 Hrs: Double top? Chikou Span hits candles, further break up is getting unlikely. It will either move sideaway 236,50-238 for a while, or with next attempt will break the 100 WMA and will attack the Cloud. What can not go up, will more likely come down, at least a bit. Support is 232-232,50, which is appr. in line with Daily Kijun Sen too.
I try to open some short in between 236,80-237,50, but only small, as on the other hand fundamentally there's not much what could support HUF really in short-medium term. The whole trade will rather depend on the general USD correction, than on local HUF news.
